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Cryptocurrencies Price Prediction: Bitcoin, Ripple & Chainlink – European Wrap 2 July

Cryptocurrencies Price Prediction: Bitcoin, Ripple & Chainlink – European Wrap 2 July
FXStreet TeamFXStreet TeamFXStreet

Bitcoin holds above $61,000 as Daily Active Addresses is highest since mid-April

Bitcoin (BTC) is encountering resistance near the $64,000 level, with on-chain data indicating a rise in daily active addresses, slight inflows into US spot Bitcoin ETFs, and the German Government's transfer of 1,500 BTC valued at $94.7 million potentially triggering a minor correction in BTC price before an anticipated upward rally in the coming days.

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Ripple ranges above $0.47 as few XRP escrow timelocks expired on Monday

Ripple (XRP) escrow unlocked 1 billion tokens on Monday as part of the planned unlock until January 2025. XRP hovers around $0.48 early on Tuesday, adding more than 1% to its value on the day. 

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Chainlink poised for a rally as whales buy the dips

Chainlink’s (LINK) price bounced from the $13.15 support level last week and extends recovery above $14.50 on Tuesday. According to Lookonchain data, over the past week, 54 new whale wallets withdrew 2.08 million Oracle tokens valued at $30.28 million from Binance, suggesting less selling pressure on Chainlink’s price and expecting more gains in LINK are likely.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Experts agree: Bitcoin nears bottom, but weak demand raises doubts

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Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Experts agree: Bitcoin nears bottom, but weak demand raises doubts

Bitcoin (BTC) is trading above $63,000 at the time of writing on Friday after rebounding from the key 200-week Simple Moving Average (SMA) near $62,000, a level widely viewed as key long-term support. The recovery may suggest that Bitcoin has found a floor after a sharp correction that spanned more than a month, but some warning signs persist.